Turkmenistan: Recent Economic Developments
May 7, 1996
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This paper reviews economic developments in Turkmenistan during 1992–96. There was a general strengthening of centralized controls during 1993–95 to protect international reserves. Monetary and exchange rate policies were geared toward sustaining a network of implicit taxes and subsidies that helped promote selected areas of economic activity and provide social protection. Real GDP declined by nearly 19 percent in 1994, reflecting, for the most part, contraction of the gas and cotton sectors. Gas production declined continuously from 87.8 billion cubic meters in 1990 to 35.7 billion cubic meters in 1994.
Subject: Agricultural commodities, Commodities, Credit, Exports, Foreign exchange, International trade, Monetary base, Money
Keywords: Agricultural commodities, Baltics, broad money, Central Asia, commercial bank, CR, Credit, credit line, Eastern Europe, Europe, exchange rate, Exports, foreign currency, foreign exchange, gas export, ISCR, Monetary base, monetary policy
Pages:
105
Volume:
1996
DOI:
Issue:
030
Series:
Country Report No. 1996/030
Stock No:
1TKMEA0011996
ISBN:
9781451837216
ISSN:
1934-7685
Notes
This report was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.
